Oppenheimer Starts Provention Bio Inc. (PRVB) at Outperform

Oppenheimer analyst Justin Kim initiates coverage on Provention Bio Inc. (NASDAQ: PRVB) with a Outperform rating and a price target of $29.00.

The analyst comments "Provention focuses on treatment and prevention of autoimmune diseases with a focus on type 1 diabetes (T1D) autoimmunity. Preparing for a BLA submission at the end of the year for lead drug teplizumab, Provention is also effecting a potential paradigm shift in the treatment of T1D autoimmunity, which we believe could become a mutli-billion-dollar treatment category at peak. With a clear line-of-sight of teplizumab's path to approval, we anticipate the story to be driven largely by (pre-)commercial execution over the coming 12-18 months, with additional pipeline catalyst events in the longer term. We are bullish."

For an analyst ratings summary and ratings history on Provention Bio Inc. click here. For more ratings news on Provention Bio Inc. click here.

Shares of Provention Bio Inc. closed at $15.00 yesterday.

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